Medici´on del estado de carga (SOC) y duraci´on restante de vida ´util (SOH)

In consideration of Dorman Trading L.L.C. (“Dorman”) accepting one or more accounts of the undersigned (“Customer”) (if more than one account is carried by Dorman, all are covered by this Agreement and are referred to collectively as the “Account”) and Dorman’s agreement to act as Customer’s broker for the execution, clearance, and/or carrying of transactions for the purchase and sale of futures contracts, options on futures contracts, spot and forward contracts, and foreign exchange contracts (collectively referred to as “Contracts”), it is agreed as follows:

Authorization – Customer authorizes Dorman to purchase and sell Contracts for Customer’s Account in accordance with

Customer’s oral or written instructions. Customer agrees that Dorman shall be entitled to rely on any instruction, notice, or communication that it reasonably believes to have originated from Customer or Customer’s duly authorized agent and Customer shall be bound thereby. Customer hereby waives any defense that any such instructions were not in writing as may be required by any law, rule or regulation.

Applicable Rules and Regulations – The Account and each transaction therein shall be subject to the terms of this

Agreement and to (a) all applicable laws and the regulations, rules, and orders (collectively, “regulations”) of all regulatory and self-regulatory organizations having jurisdiction and (b) the constitution, by-laws, rules, regulations, orders, resolutions, interpretations and customs and usages (collectively, “rules”) of the market and any associated clearing organization (each, an “exchange”) on or subject to the rules of which such transaction is executed and/or cleared. The reference in the preceding sentence to exchange rules is solely for Dorman’s protection and Dorman’s failure to comply therewith shall not constitute a breach of this Agreement or relieve Customer of any obligation or responsibility under this Agreement. Dorman shall not be liable to Customer as a result of any action by Dorman, its officers, directors, employees, or agents to comply with any rule or regulation.

Payments to Dorman – Customer agrees to pay to Dorman immediately on request (a) commissions, fees, and service

charges as are in effect from time to time together with all applicable regulatory and self-regulatory organization and exchange fees, charges, and taxes, (b) the amount of any debit balance or any other liability that may result from transactions executed for the Account; and (c) interest on such debit balance or liability at the prevailing rate charged by Dorman at the time such debit balance or liability arises and service charges on any such debit balance or liability, together with any reasonable costs and attorneys’ fees incurred in collecting any such debit balance or liability. Customer acknowledges that Dorman may charge commissions at other rates to other customers.

Customer’s Duty to Maintain Adequate Margin – Customer shall at all times and without prior notice or demand from Dorman maintain adequate margins in the Account so as continually to meet the original and maintenance margin requirements established by Dorman for Customer. Dorman may change such requirements from time to time at Dorman’s discretion. Such margin requirements may exceed the margin requirements set by any exchange or other regulatory authority and may vary from Dorman’s requirements for other customers. Customer agrees, when so requested, immediately to wire transfer margin funds and to furnish Dorman with names of bank officers for immediate verification of such transfers. Failure to deposit adequate margin when requested by Dorman, may result in the involuntary liquidation of all or part of your position. Dorman’s failure to require satisfaction of a margin call immediately on any occasion shall not be deemed to be a waiver of its right to do so in the future. Customer acknowledges and agrees that Dorman may receive and retain as its own any interest, increment, profit, gain, or benefit, directly or indirectly, accruing from any of the funds Dorman receives from Customer.

Delivery – Customer acknowledges that the making or accepting of delivery pursuant to a futures contract may involve a much higher degree of risk than liquidating a position by offset. Dorman has no control over and makes no warranty with respect to grade, quality, or tolerances of any commodity delivered in fulfillment of a contract.

Customer understands that liquidating instructions on open futures positions maturing in a current month must be given to Dorman at least five business days prior to the first notice day in the case of long positions and, in the case of short positions, at least five business days prior to the last trading day. Alternatively, sufficient funds to take delivery or

31 | DORMAN LLC ACCOUNT APPLICATION (VER. 04272016) DORMAN TRADING LLC necessary delivery documents to make delivery must be delivered to Dorman within the same period described above. If Dorman has requested instructions, funds, or documents, and the same are not received by Dorman within the applicable time frame set forth above, Dorman without any further notice or requests may either liquidate Customer’s positions or make or receive delivery on Customer’s behalf upon such terms and such methods as Dorman deems to be feasible.

In the case of Dorman’s inability to deliver any security, commodity or other property to the purchaser by reason of failure of Customer to supply Dorman therewith, then and in such event, Customer authorizes Dorman to borrow or buy any security, commodity, or other property necessary to make delivery thereof. Customer agrees to be responsible for any premiums which Dorman may be required to pay thereon or any cost which Dorman may sustain by reason of Dorman’s inability to borrow or buy the security, commodity, or other property sold, and for any debit, loss, fine, or other assessment or penalty levied against Dorman as a result of Customer’s delivery failure

Options – Dorman shall not have any obligation to exercise any long option contract unless Customer has furnished

Dorman with timely exercise instructions and sufficient initial margin with respect to each underlying futures contract. Customer understands that some exchanges and clearing houses have established cut-off times for the tender of option exercise instructions and that an option will become worthless if instructions are not delivered before such expiration time. Customer also understands that certain exchanges and clearing houses automatically exercise some “in-the- money” options unless instructed otherwise. Customer acknowledges full responsibility for taking action either to exercise or to prevent the automatic exercise of an option contract, as the case may be, and Dorman is not required to take any action with respect to an option contract, including without limitation, any action to exercise an option prior to its expiration date or to prevent its automatic exercise, except upon Customer’s express instructions. Customer further understands that Dorman may establish exercise cut-off times which may be different from the times established by exchanges and clearing houses.

Customer understands that all short option positions are subject to assignment at any time, including positions established on the same day that exercises are assigned, and that assignment notices are allocated among Dorman’s customers’ short options positions which are subject to assignment. Customer understands that Dorman may not be able to notify Customer that a position was exercised prior to the opening of the next trading session, although Dorman will undertake reasonable efforts to do so.

Foreign Currency – If Dorman enters into any transaction for Customer effected in a currency other than U.S. dollars: (a)

any profit or loss caused by changes in the rate of exchange for such currency shall be for Customer’s Account and risk and (b) unless another currency is designated in Dorman’s confirmation of such transaction, all margin for such transaction and the profit or loss on the liquidation of such transaction shall be in U.S. dollars at a rate of exchange determined by Dorman in its discretion on the basis of then prevailing market rates of exchange for such foreign currency.

Position Limits– (a) Customer agrees that Dorman, at its discretion, may establish trading limits for Customer’s Account

and may limit the number of open positions (net or gross) which Customer may execute, clear, and/or carry with or acquire through it. Customer agrees (i) not to make any trade which would have the effect of exceeding such limits, (ii) that Dorman may require Customer to reduce open positions carried with Dorman, and (iii) that Dorman may refuse to accept orders to establish new positions. Dorman may impose and enforce such limits, reduction, or refusal whether or not they are required by applicable law, regulations, or rules. (b) Customer shall comply with all position limits established by any regulatory or self-regulatory organization or any exchange. In addition, Customer agrees to notify Dorman promptly if Customer is required to file position reports with any regulatory or self-regulatory organization or with any exchange and agrees to provide Dorman with copies of any such report. Dorman expressly disclaims any liability for Customer’s losses related to Customer’s exceeding the Trading Limit. Customer understands that Trading Limits are for Dorman’s use and protection and in no way is Dorman agreeing to monitor Customer’s trading on the Customer’s behalf.

32 | DORMAN LLC ACCOUNT APPLICATION (VER. 04272016) DORMAN TRADING LLC No Warranty as to Information or Recommendations – Customer acknowledges that:

any market recommendations and information Dorman may communicate to Customer does not constitute an offer to sell or a solicitation of any offer to buy any Contract;

such recommendations and information, although based upon information obtained from sources believed by Dorman to be reliable, are incidental to Dorman’s business as a futures commission merchant, may be incomplete and not subject to verification, and will not serve as the primary basis for any decision by Customer;

Dorman makes no representation, warranty, or guarantee as to, and shall not be responsible for, the accuracy or completeness of any information or trading recommendation furnished to Customer;

recommendations to Customer as to any particular transaction at any given time may differ among Dorman’s personnel due to diversity in analysis of fundamental and technical factors and may vary from any standard recommendation made by Dorman in its market letters or otherwise; and

Dorman has no obligation or responsibility to update any market recommendations or information it communicates to Customer.

Customer understands that Dorman and its officers, directors, affiliates, stockholders, representatives, or associated persons may have positions in and may intend to buy or sell Contracts which are the subject of market recommendations furnished to Customer, and that the market positions of Dorman or any such officer, director, affiliate, stockholder, representative, or associated person may or may not be consistent with the recommendations furnished to Customer by Dorman.

Limits on Dorman Duties; Liability – Customer agrees:

Dorman is not acting as a fiduciary, commodity trading advisor, investment adviser, or commodity pool operator with respect to Customer or any Contract or Account and Dorman shall have no responsibility for compliance with any law or regulation governing the conduct of any such fiduciary or advisor or for Customer’s compliance with any law or regulation governing or affecting Customer’s trading hereunder;

that the commissions which Dorman receives are consideration solely for the execution, reporting, and carrying of Customer’s trades;

that if Customer has authorized any third party or parties to place orders or effect transactions on behalf of Customer in any Account, each such party has been selected by Customer based on its own evaluation and assessment of such party and that such party is solely the agent of Customer, and if any such party allocates Contracts among its customers, Customer has reviewed each such party’s allocation system, has satisfied itself that such allocation system is fair, and will seek recovery solely from such party to recover any damages sustained by Customer as the result of any allocation made by such party; and

to waive any and all claims, rights, or causes of action which Customer has or may have against Dorman or its officers, employees, and agents (i) arising in whole or in part, directly or indirectly, out of any act or omission of any person, whether or not legally deemed an agent of Dorman, who refers or introduces Customer to Dorman or places orders for Customer and (ii) for any punitive damages and to limit any claims arising out of this Agreement or the Account to Customer’s direct out-of-pocket damages.

33 | DORMAN LLC ACCOUNT APPLICATION (VER. 04272016) DORMAN TRADING LLC Consent to Take the Other Side of Orders – Without its prior notice, Customer agrees that (i) Dorman may engage in

pre-execution communications in accordance with applicable rules and regulations relating to electronic trading and the execution of electronic orders; and (ii) when Dorman executes sell or buy orders on Customer’s behalf, Dorman, its directors, officers, employees, agents, affiliates, and any floor broker or terminal operator may take the other side of Customer’s order for the account of such person subject to such order being executed in accordance with and subject to the limitations and conditions, if any, contained in applicable rules and regulations.

Third-Party Actions and Extraordinary Events –

If Customer’s Account has been introduced to Dorman by another broker, that broker is acting as Customer’s agent and that broker in this relationship is not an agent of or affiliated with Dorman. Customer agrees that Customer’s broker and its employees are third-party beneficiaries of all the rights of this Agreement. Unless Dorman receives from Customer prior written notice to the contrary, Dorman may accept from such other broker, without any inquiry or investigation: (a) orders for the purchase or sale of Contracts, on margin or otherwise; and (b) any other instructions concerning Customer’s Account or the property therein. Customer understands and agrees that by agreement with Customer’s broker, Dorman may pay a substantial portion of the brokerage commissions charged to Customer’s Account to Customer’s broker in consideration of introducing and servicing Customer’s Account. Customer further understands and agrees that the role of Dorman is limited to execution, clearing and bookkeeping for transactions made pursuant to instructions from Customer or Customer’s broker, and Dorman generally will not inquire into the circumstances surrounding any transaction for Customer’s Account. Dorman is not responsible for any acts or omissions of any independent introducing broker, including, but not limited to, sales practices, trading practices or recommendations. Customer agrees to look solely to Customer’s independent introducing broker for redress of any loss or damage arising out of circumstances other than Dorman’s own gross negligence or willful misconduct in the execution, clearance or bookkeeping of transactions for Customer’s Account.

Customer shall have no claim against Dorman for any loss, damage, liability, cost, charge, expense, penalty, fine, or tax caused directly or indirectly by (a) governmental, court, exchange, regulatory or self-regulatory organization restrictions, regulations, rules, decisions, or orders, (b) suspension or termination of trading, (c) war or civil or labor disturbance, (d) delay or inaccuracy in the transmission or reporting of orders due to a breakdown or failure of computer services, transmission, or communication facilities, (e) the failure or delay by any exchange or clearing organization to enforce its rules or to pay to Dorman any margin due in respect of Customer’s Account, (f) the failure or delay by any bank, trust company, clearing organization, or other person which, pursuant to applicable exchange rules, is holding Customer funds, securities, or other property to pay or deliver the same to Dorman, or (g) any other cause or causes beyond Dorman’s control.

Indemnification of Dorman – Customer agrees to indemnify, defend and hold harmless Dorman and its directors, officers, employees, and agents from and against any loss, cost, claim, damage (including any consequential cost, loss or damage), liability, or expense (including reasonable attorneys’ fees) and any fine, sanction or penalty made or imposed by any regulatory or self-regulatory authority or any exchange as the result, directly or indirectly, of:

Customer’s failure, breach, or refusal to fully and timely comply with any provision of this Agreement or perform any obligation on its part to be performed pursuant to this Agreement;

Any actions of any third party selected by Customer which affect Customer’s Account; or

Customer’s failure to timely deliver any security, commodity, or other property previously sold by Dorman on Customer’s behalf.

Customer additionally agrees to pay promptly to Dorman all reasonable attorney’s fees incurred by Dorman (i) in the enforcement of any of the provisions of this Agreement, or (ii) in any action, claim or demand filed by Customer arising

34 | DORMAN LLC ACCOUNT APPLICATION (VER. 04272016) DORMAN TRADING LLC out of this Agreement or any other Agreements between Dorman and Customer where Dorman is not found to be liable or responsible.

Notices; Transmittal – Customer consents to the electronic delivery of reports, notices and confirmation and other

statements via electronic mail, computer network facsimile, or other electronic means as agreed by Customer and Dorman. Customer may revoke its consent at any time upon reasonable notice to Dorman. Dorman shall transmit all communications to Customer at Customer’s address, e-mail address, telefax or telephone number set forth in the accompanying Futures Account Application or to such other address as Customer may here-after direct in writing. Customer shall transmit all communications to Dorman (except routine inquiries concerning the Account) to the attention of Dorman’s Compliance Department. All payments and deliveries to Dorman shall be made as instructed by Dorman from time to time and shall be deemed received only when actually received by Dorman

Confirmation Conclusive – Confirmation of trades and any other notices sent to Customer shall be conclusive and binding

on Customer unless Customer or Customer’s agent notifies Dorman to the contrary (a) in the case of an oral report, orally at the time received by Customer or its agent or (b) in the case of a written report or notice, in writing prior to opening of trading on the business day next following receipt of the report. In addition, if Customer has not received a written confirmation that a Contract has been executed within three business days after Customer has placed an order with Dorman to effect such transaction, and has been informed or believes that such order has been or should have been executed, then Customer immediately shall notify Dorman thereof. Absent such notice, Customer conclusively shall be deemed estopped to object and to have waived any such objection to the failure to execute or cause to be executed such transaction. Anything in this Section 15 notwithstanding, neither Customer nor Dorman shall be bound by any transaction or price reported in error.